Md. man accused of selling fake energy credits

June 25, 2012 - 2:35 PM

BALTIMORE (AP) — Prosecutors told jurors in Baltimore that a Maryland man accused of selling millions of dollars in fraudulent renewable energy credits didn't produce anything but lies.

Rodney Hailey is accused of selling $9.1 million in credits for biodiesel that his company didn't produce. Instead, prosecutors told jurors Monday in their closing arguments in federal court that he spent the money on cars, jewelry and property.

Hailey's defense, meanwhile, told jurors that the Perry Hall man didn't defraud anyone because traders and brokers knew the credits were fake.

Hailey faces up to 32 years and return of the property and cash if convicted on all counts. The case is one of several that have roiled the market for the credits and led to calls for a review of the Environmental Protection Agency program.